Circle raises $222 million for Arc blockchain token sale at $3 billion valuation
Circle raised $222 million for its Arc blockchain token at a $3 billion valuation, drawing backing from BlackRock, Apollo and Bullish.
What to know:
- Circle sold $222 million worth of ARC tokens in a presale valuing the network at $3 billion.
- Investors included BlackRock, Apollo, a16z crypto, Bullish, ICE and Standard Chartered Ventures.
- ARC is designed to support governance, validator security and operations on Circle’s new Arc blockchain.
The fundraising marks Circle’s most ambitious expansion beyond USDC and payments infrastructure, pushing the stablecoin issuer deeper into the race to build blockchain rails for institutional finance.
Circle also published the Arc whitepaper on Monday, outlining ARC as a “native coordination asset” designed to support governance, validator security and network operations across the chain.
Arc, which began testing in October, is being positioned as a blockchain optimized for stablecoin-based capital markets and regulated financial activity, which includes tokenized assets, cross-border settlement and onchain finance.
Unlike USDC, which functions as a dollar-pegged payment token, ARC appears intended to play a role closer to ether on Ethereum or SOL on Solana — helping coordinate the network’s economic and security model.
Circle did not immediately respond to CoinDesk’s request for comment.
